Business owners face different challenges every day. Natural disasters, economic factors, and political factors have a direct effect on businesses. Commercial insurance coverage such as property, auto, general liability, workers’ compensation, cyber liability, crime, management liability, and other coverage lines provide protection so that our commercial clients can instead focus on the profitability and continuity of their businesses.
General liability includes coverage for claims or suits arising from the operation of your business. It includes coverage for bodily injury and property damage. Additional coverage, such as employee benefits liability and hired, non-owned auto liability may be added.
The International Package provides coverage for business operations outside of the United States including foreign liability, workers’ compensation, auto, and property coverage.
Property insurance provides protection for damage to real and personal property caused by covered causes of loss such as wind, fire, theft, etc.
Similar to a “disability” policy for your business, business interruption provides coverage for loss of income and continuing expenses in the event your business is shut-down due to a covered cause of loss.
Equipment Breakdown / Boiler and Machinery
Coverage for damage caused by a sudden and accidental mechanical or electrical breakdown of equipment such as HVAC, boilers, and production machinery.
Workers’ compensation provides statutory coverage such as medical payments and loss of wages due to a work-related injury. Return-to-work programs are crucial in managing workers’ compensation claims. Employers’ liability is also a component of workers’ compensation, which provides coverage for employers who may be sued by an injured worker.
Aviation insurance provides protection for claims or suits arising from the use and maintenance of aircraft, including unmanned aircraft (drones). Liability (including hangerkeepers liability), as well as physical damage (hull) coverage, is also available.
Commercial surety, such as license and permit, as well as contract bonds (bid, performance, and payment bonds).
Coverage for bodily injury and property damage claims arising from the ownership and/or use of automobiles including trucking operations. Physical damage coverage for vehicles, medical payments, personal injury protection, and uninsured/underinsured motorists’ coverage is also available. For trucking and transportation operations, additional coverage may be needed such as motor truck cargo and trailer interchange as well as motor carrier filings.
Additional layers of liability protection to go over the primary liability coverage lines such as automobile, general liability, employer’s liability, etc. Umbrella/Excess liability is also available for individuals to provide additional coverage for personal liability exposures including auto, homeowners, watercraft, etc.
The peril of flooding is a common exclusion in insurance policies, but coverage is available through the National Flood Insurance Program as well as other insurance carrier programs to insure real and personal property.
A crime insurance policy provides coverage for loss caused by employee dishonesty, funds transfer fraud, computer fraud, theft of money/securities, social engineering, and more. ERISA coverage may also be added to a crime policy.
Cyber liability provides coverage for first-party and third-party loss resulting from a security breach including notification costs, forensic expenses, ransomware demands, etc.
Management liability includes important coverage lines such as directors’ and officers’ liability, employment practices liability, fiduciary liability (management of 401k/profit-sharing plans), and employed lawyer liability (for in-house counsel). Crime and cyber coverage may also be included in a management liability package.
Errors and Omissions Insurance (E&O)
Errors and omissions liability, also known as professional liability, can be written for various professions such as architects, engineers, attorneys, contractors, and other professional services. Coverage is provided for claims arising from monetary damage caused by an error and/or omission in providing a professional service
Professional liability can be written for various professions such as architects, engineers, physicians, attorneys, insurance agents, contractors, and other professional services. Coverage is provided for claims arising from monetary damage caused by an error and/or omission in providing a professional service.
Credit Risk Insurance
Credit risk insurance provides coverage for loss of revenue and additional expenses caused by customers defaulting on payments.
Intellectual Property (patents, copyright, trademarks, etc.)
Defense and abatement coverage is available for intellectual property such as copyrights, patents, and trademark infringement.
Coverage is available for both first-party cleanup and third-party liability losses arising from covered pollution events involving the contamination of an environment by substances regarded as pollutants
Coverage is available to insure against physical damage to railcars caused by a covered cause of loss.
Railroad Protective Liability
Liability coverage is often required by owners of railroads due to the work of contractors on or near the railroad right-of-way.
Coverage is available for property in transit over land; certain types of moveable property; instrumentalities of transportation such as bridges, roads, and piers; instrumentalities of communication such as television and radio towers; and legal liability exposures of bailees responsible for other’s property.
This policy covers the transportation of goods and/or merchandise by vessels crossing both foreign and domestic waters including any inland or aviation transit associated with the shipment.
The product recall policy provides coverage for the additional expenses associated with the cost of getting a defective product back under the control of the manufacturer or merchandiser responsible for possible bodily injury or property damage from continued use or existence of the product.
Difference in Conditions
Difference in Conditions (DIC) policies provide coverage for perils typically excluded in the standard property policy such as flood and earthquake. These policies may often provide broader coverage than a typical flood policy such as business income coverage.
A captive program involves an insurance company that is wholly owned and controlled by its insureds with the primary purpose of financing the risks of its owners or participants. Typically, a captive is licensed under special purpose insurer laws and operated under a different regulatory system than commercial insurers. The primary purpose of a captive program is to insure the risks of its owners, and its insureds benefit from the captive insurer’s underwriting profits. Elements such as a large deductible/retention may also be utilized alongside or in lieu of a captive program.